Contract Finance

This product is designed to help you fund bigger contracts from FirstBank-approved list of companies; for easy execution without challenges.

Features

  • Obligor must be the primary contractor of the Principal (not Sub-contractor).
  • Maximum facility tenor of 6 months, with an option of renewal over a maximum of 3 months.
  • Facilities above N50m will require an additional FirstBank acceptable security.
  • Loan amount not to exceed 70% of estimated total cost of executing the contract, 30% of which must be evidenced as customer’s equity participation.
  • Terms & Conditions apply.

 

Benefits

  • Access to finance to finance for smooth contract execution.

 

Accompanying Documents

  • Contract Papers issued by the company awarding the contract.
  • Bill of Quantity for the contract to be executed.
  • Evidence of previous similar contract(s) executed by Contractor.
  • Evidence of relevant government agency approval for contract.
  • Any other documents that may be required by the bank.

 

Who Can Apply

  • SMEs with annual turnover up to N3billion.

To Apply for a Contract Finance ,

         Frequently Asked Questions

1) What nature of contracts will the bank finance?

We will finance a variety of legitimate contracts awarded by Government Parastatals and reputable private organisations in the country operating in the different sectors and contracts with varying levels of complexity. However, the approvals will be given at the sole discretion of the bank. Kindly approach any FirstBank branch on how to structure the facility.

 

2) What amount can a customer obtain under this product?

FirstBank will readily finance contracts up to the tune of N50 million under this product, nonetheless, contracts above this amount will be considered on a case by case basis.

 

3) What is the repayment pattern for this facility?

Repayment pattern for this facility is quite flexible and is as agreed between the organisation awarding the contract, the contractor and FirstBank.

 

4) Can Supply contracts be financed under this product program?

Supply contract are to be financed using another of the bank’s products known as LPO Finance.

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FirstBank Privacy Policy for IBM DNA E-Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

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This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the IBM DNA learning platform to meet your needs.

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In the course of consuming the services provided to you by IBM through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

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FirstBank will process our information for the following purposes;

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To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

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The following rights are available to you under this policy:

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FirstBank Privacy Policy for Roducate

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At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

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This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Roducate learning platform to meet your needs.

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In the course of consuming the services provided to you by Roducate through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

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We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

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FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

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FirstBank Privacy Policy for Curious Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

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This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Curious Learning platform to meet your needs.

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In the course of consuming the services provided to you by Curious Learning through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

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E-Learning Curious Learning

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Parents should kindly complete the form below for their wards.

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